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Henry Schein, a provider of healthcare solutions to office-based dental and medical practitioners, plans to enter the upper and lower extremities specialty segment of the orthopedic market. The company has signed an agreement to acquire a majority interest in TriMed, global developer of solutions for the orthopedic treatment of lower and upper extremities.
The transaction is slated to close in 1Q24. Financial terms were not disclosed. TriMed had 2022 net sales of approximately $48 million.
Further, Henry Schein entered into a strategic relationship with Extremity Medical, developer of products for fusion, fixation and motion preservation in the orthopedic treatment of the lower extremities and wrist. Extremity Medical will operate as a separate, stand-alone company.
“Partnering with the TriMed and Extremity teams will provide Henry Schein with a platform to establish ourselves as a leading manufacturer and supplier in the Foot and Ankle as well as Hand and Wrist extremity segments of the orthopedic market,” said Stanley M. Bergman, Chairman and Chief Executive Officer, Henry Schein, Inc. “We believe the experienced leadership team that we have assembled is well-positioned to leverage our deep and longstanding relationships with existing integrated delivery network and ambulatory surgery center customers.”
“We are looking forward to entering the extremity segment with the complementary portfolios of TriMed and Extremity Medical, which extend our Brasseler Medical orthopedic cutting accessories and revision instrument solutions,” said Tom Popeck, President of Henry Schein’s Healthcare Specialties Group. “Upper and lower extremities are among the fastest-growing segments of orthopedics, representing a total addressable market of more than $5.5 billion. We are confident that we will accelerate the reach of TriMed and Extremity on a global basis.”
Source: Henry Schein, Inc.
